Thursday news in brief
Govt intervention needed to sort Auckland’s mess
There is no question that Auckland’s housing market is a “bubble” but it is not the fault of the construction industry, according to a new report by a professor of construction.
AUT professor John Tookey’s report suggests that the push to free-up more land for new housing is simply delivering large and expensive standalone homes – which are not what the market needs.
But the solution to the “huge mess” is a sticks and carrots governmental policy approach that compels market behaviour, he says. To this end, he recommends disincentivising property speculation and adopting incentives encouraging buy-to-let landlords to sell their properties
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